Frequently Asked Questions
Maybe you have a few questions. That’s okay; most people do. So here’s a quick collection of some of the questions people ask us… along with our answers. If you still have a question, don’t hesitate to contact us (or give us a call) and we’ll be happy to answer it for you.
Q: Will you be listing my house on the MLS or actually buying it?
A: Great question. I am a licensed real estate agent, but we don’t list houses. We are professional home buyers: We buy houses DFW that meet our purchasing criteria. From there we may repair the house and resell it to another homeowner or keep it as a rental ourselves.
Q: Do you pay fair prices for properties?
A: Many of the houses we purchase are below market value (we do this so we can resell it at a profit to another homeowner). We are looking to get a fair discount on a property. However, in our experience, many sellers aren’t necessarily expecting a large “windfall” on the property but rather appreciate that we can offer a fair price, we close very quickly (no waiting for financing), and no time or effort or expense is required on your part of fix up the property or pay agent fees. If that’s what you’re looking for and you see the value in getting your house sold fast… let’s see if we can come to a fair win-win price. (Besides, our no-obligation pricing commitment means that you do not have to move forward with the offer we give… but it’s good to know what we’re offering!)
[DOWNLOAD our free guide that walks you through the Pros and Cons (plus the cost and timeline) of selling your house to a real estate investor… plus learn the pros, cons, and costs of the other two alternatives… listing with an agent or selling it yourself. Head on over here download your free guide →]
Q: How do you determine the price to offer on my house?
A: Great question, and we’re an open book: Our process is very straightforward. We look at the location of the property, what repairs are needed, the current condition of the property, and values of comparable houses sold in the area recently. As you know, house values have taken off this last year and we are not sure when they will level off. We take many pieces of information into consideration… and come up with a fair price that works for us and works for you too.
Q: Are there any fees or commissions to work with you?
A: This is what makes us stand out from the traditional method of selling your house: There are NO fees or commissions when you sell your house to us. We’ll make you an offer, and if it’s a fit then we’ll buy your house (and we’ll often pay for the closing costs too!). No hassle. No fees. We make our money after we pay for repairs on the house (if any) and sell it for a profit (we’re taking the risks here on whether we can sell it for a profit or not, once we buy the house from you… the responsibility is ours and you walk away without the burden of the property and its payments… and often with cash in your hand).
Q: How are you different from a real estate agent?
A: Real estate agents list properties and hope that someone will buy them. The agent shows the properties to prospective buyers if there are any (the average time to sell a property in many markets right now is 6-12 months) and then take a percentage of the sale price if they find a buyer. Oftentimes, the agent’s commission is 3-6% of the sale price of your house (so if it’s a $100,000 house, you’ll pay between $3,000 – $6,000 in commissions to an agent). Agents provide a great service for those that can wait 6-12 months to sell and who don’t mind giving up some of that sale price to pay for the commissions. But that’s where we’re different: While I am an agent, but firstly we’re home buyers. Our company actually buys houses. We don’t list houses. Since we’re actually the one buying the house from you, and we can offer a prefect solution for you… we can make a decision to buy your house within a couple of days (sometimes the same day). Again, we make our living by taking the risk to buy the house with our own cash, repair the house, and market it ourselves to find a buyer (which is the hard part in this market).
Q: Is there any obligation when I submit my info?
A: There is absolutely zero obligation for you. Once you tell us a bit about your property, we’ll take a look at things, maybe set up a call with you to find out a bit more, and make you an all-cash offer that’s fair for you and fair for us. From there, it’s 100% your decision on whether or not you’d like to sell your house to us… and we won’t hassle you, won’t harass you… it’s 100% your decision and we’ll let you decide what’s right for you.
Unsecured Financing Questions:
Q: What are the terms of the loan?
A: Since we work with multiple lenders the terms can vary. Typically we see a range between 3, 5 or 7 years.
Q: What is the interest rates?
A: Again since we work with multiple lenders the interest rate can vary but it depends on your credit profile and income. We have attorneys that negotiate the rates with the lenders on your behalf.
Q: What can I use this money for?
A: Anything! But you have to be financially responsible. Please make sure you have a plan in place to pay the money back. If not and you default then this can dis-qualify you for using funding in the future. Some examples of industries that can benefit are real estate investing, online or brick and mortar businesses that need working or start-up capital. There is no restrictions on how the money is used.
Q: Which states do we lend to?
A: We lend can lend in all 50 states.
Q: How much can I get funded for?
A: We can fund up to $400K. This will depend on your income and credit profile.
Q: Will you pull my credit during the pre-approval?
A: No. During the pre-approval process we will be asking for a copy of your credit report. We will then proceed with a soft pull. When you agree to go through with lending that is when you will receive the inquiry. Click HERE to get your credit report for $1 or get a copy of all your FICO scores click HERE
Q: What documents are needed?
A: Documents needed will depend on if you are self- employed or a W2 employee. We will need documentation to support your identity, income and credit.
Q: Do I have to pay anything upfront?
A: NO! We get paid when you get funded just like any other lending professional.
Q: Do I need collateral to get funded?
A: No. The funds are based off your credit profile and income.
Q: Are there any prepayment penalties?
A: No. You can pay the loan off early without any penalties.
Q: Are my documents secure?
A: Yes. We know the importance of keeping your documents secure. You will be given a link to a secure portal with your own log ins. So please do not share it with anyone.
Mentorship Program Questions:
Q: What are the requirements?
A: The credit requirements are the same for all programs. Click HERE
Q: Will you pull my credit during the pre-approval?
A: No. During the pre-approval process we will be asking for a copy of your credit report. You supply the copy. When you agree after the pre-approval, to go through with lending to get into the programs, that is when you will receive the inquiry. Click HERE to get your credit report for $1 or get a copy of all your FICO scores click HERE
Q: Is this for new investors or experienced investors?
A: We cater to new investors because it can be hard breaking into the industry but it can be for experienced investors as well.
Q: Do we accept out of state investors?
A: Yes. We accept out of state investors.
Q: Is this my property?
A: YES! Your name is on the HUD statement. This is your property.
Q: Do I have access to the team fixing the property?
A: Yes. You have full access to everyone involved. Ask questions and learn. So the next time you can go out and do it on your own.
Q: Can I do more than 1 property at a time?
A: Yes BUT this will depend on how much you can get funded for.
Q: How much can I make in these programs?
A: It depends which program you choose. The fix and flip program “MO Money Matters” you can make a min of $20K. Or if you wanted residual income “R.E.A.L. Program” for a rental then that will depend on market rent.
Q: How long have our company been around?
A: Our company was established in 2018 and our funding company has been doing this for over 11 years. Everyone is working together to build programs that can help create a WIN WIN for everyone.
Q: Once I complete the program can I get back in?
A: Unfortunately no. There is a waiting period to get back in to these programs. It is usually 6 months after you complete the program. We hope that you gained all the knowledge during that time so you can go out and do it yourself. If you do want to get back in then we do not discourage you from doing so.